MicroStrategy Buys the Dip, Adds $10M to Bitcoin Treasury
CEO Michael Saylor bought the coins for an average price of $31,808.
Updated Sep 14, 2021 at 11:00 a.m. UTC
![microstrategy_flickr](https://www.coindesk.com/resizer/gyK9X6pHnGo6b7vhMT2-jyF5vYw=/567x378/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/ZMJ5RXFYRVFWBN54477DJSIYIM.jpg)
Business intelligence company MicroStrategy bought 314 bitcoin for $10 million on Friday, piling on in a market that was down as much as 15% only one day before.
- CEO Michael Saylor said in a tweet the coins cost an average of $31,808. He said the purchase conforms with MicroStrategy's treasury reserve policy.
- This is MicroStrategy's first treasury padding since splurging $600 million on the market-leading cryptocurrency following a debt raise.